—The term ‘qualified items of income, gain, deduction, and loss’ means items of income, gain, deduction, and loss to the extent such items are—    (i) effectively connected with the conduct of a trade or business within the United States (within the meaning of section 864(c), determined by substituting ‘qualified trade or business (within the meaning of section 199A)’ for ‘nonresident alien individual or a foreign corporation’ or for ‘a foreign corporation’ each place it appears), and    (ii) included or allowed in determining taxable income for the taxable year. 

Now there are a few loopholes that you can use but make sure you're not using them to substitute for a protected class.  

(A recorded trustee's deed (or similar alternative) confirming the amount paid by the grantee to trustee may be substituted for a settlement statement if a settlement statement was not provided to the purchaser at time of sale.)The preliminary title search or report must confirm that there are no existing liens on the subject property.The sources of funds for the purchase transaction are documented (such as bank statements, personal loan documents, or a HELOC on another property).If the source of funds used to acquire the property was an unsecured loan or a loan secured by an asset other than the subject property (such as a HELOC secured by another property), the settlement statement for the refinance transaction must reflect that all cash-out proceeds be used to pay off or pay down, as applicable, the loan used to purchase the property.

Substitute San Diego's cost per sq ft and that would be a reasonable minimum cost.

Bigger Pockets, while of value, is no substitute.  

But there is no substitute for taking the time to educate yourself (you didn't learn to read, or do multiplication, or to do any involved task overnight).

Not being an attorney, I cannot judge whether such structures provide the legal benefits they are meant to provide and whether they are necessary.My main beef (substitute soy if you're vegetarian) with them is that investors do not follow the burdensome formalities required to maintain integrity of these structures.

Think of a lease and a ROFR as a substitute. 

LLC is not a substitute for insurance.

Substituting with other lower priced wood like pine etc will split and shrink.